Podium Minerals (ASX:POD) has entered a non-binding memorandum of understanding (MoU) with US-based PGM Processing (PGMP) to develop an integrated Australia-US platinum group metals (PGM) supply chain.
The partnership covers potential midstream and downstream processing of concentrates from Podium’s flagship Parks Reef PGM Project in Western Australia, secondary PGM recycling, and marketing of value-added products into the United States.
The MoU outlines a PGM recovery, processing, and smelting hub in Western Australia’s Mid-West region, and potential expansion of PGMP’s existing Oklahoma smelter.
The partnership would treat and upgrade Parks Reef concentrate to produce ‘higher-grade’ smelter alloy products.
PGMP operates an industrial smelter complex in Duncan, Oklahoma, US, recovering PGMs from automotive, petrochemical, and industrial catalysts.
It runs two continuous feed plasma arc furnaces with a third due for commissioning in early 2027, providing installed capacity of about 450,000-ounce three-element PGMs per annum.
Managing Director Rod Baxter says the MoU creates a framework to position Parks Reef within a secure, integrated PGM supply chain linking Australia and the US.
The MoU also contemplates accessing US and Australian government critical minerals funding, including potential concessional financing through the Export-Import Bank of the United States and Export Finance Australia.
The agreement sets out a three-stage process, beginning with a detailed collaboration agreement within six months to define scope and responsibilities.
Subject to a successful viability assessment, the companies would then progress a project implementation agreement ahead of a final investment decision.
Podium Chair Neal Froneman is chairman and a substantial holder of PGMP, while PGMP President Justin Froneman is Neal Froneman’s son and also a substantial holder through Sumsare Resources.
Podium Minerals is an Australian explorer targeting first PGM production from its Parks Reef and Range Well assets in Western Australia’s Mid West.
Write to JC Villarba at Mining.com.au
Images: Podium Minerals
